2024 Changes to New York Paid Family Leave Contributions
Written by Kim Brown-Webster, SHRM-CP
The New York Paid Family Leave program has provided vital benefits to employees of New York State. Since 2018, the state has permitted eligible workers several weeks of paid parental leave.
Over the course of four years, New York Paid Family Leave disbursed a total of $2.2 billion to eligible state employees. Contributions and maximum disbursement amounts will change under the program as of January 1, 2024.
Business owners and managers should inform their HR departments and employees of the latest New York PFL contribution changes for 2024.
NY Paid Family Leave Updates 2024
NY Paid Family Leave contributions for 2024 are adjusted annually. Companies can pay premiums directly or deduct them from an employee's post-tax payroll to fund New York PFL.
In 2024, the contribution rate for an employee's gross earnings will decrease to 0.373% from 0.455% in 2023. Additionally, the maximum annual contributions will decrease to $333.45 from $399.43.
Contributions differ based on an employee’s annual earnings. If an employee earns less than the Statewide Average Weekly Wage of $1,718.15, they will have a reduced contribution amount calculated using their wages.
The New York Paid Family Leave (PFL) program provides eligible employees with 67% of their weekly earnings, with a cap of $1,718.15. For 2024, the maximum weekly benefit is $1,151.16, a difference of $20.08 from 2023's top benefit of $1,131.08.
Updates to the program in 2024 will include changes to the covered payroll threshold, which will be based on the statewide average weekly pay multiplied by 52 weeks. The maximum amount for the covered payroll threshold in 2024 will increase to $89,343.80 from $87,785.88 in 2023.
Paid Family Leave Compliance 2024 Tips
The New York Paid Family Leave program covers all employees in the state, regardless of their residency. It provides paid leave for bonding with a new baby, adopted, or foster child, caring for sick family members, or having deployed loved ones.
The 2024 fund provides 67% of gross earnings for 12 weeks of protected leave, with a maximum payment of $1,151.16 per week. State workers can take the leave all at once or in full-day increments, but only one 12-week leave period is allowed per year.
Feeling overwhelmed by the complexities of New York Paid Family Leave?
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About the Author
Kim Brown-Webster is Complete Payroll's Director of Human Resources. Kim is a SHRM Certified Professional (SHRM-CP) with over 23 years of Human Resources experience.
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